Oppenheimer Maintains Outperform on Stericycle

Oppenheimer is out with its report today on Stericycle SRCL, maintaining Outperform. In its report, Oppenheimer writes, "We're reiterating our Outperform rating and $100 price target, which is based on 31x our likely conservative 2012 EPS estimate of $3.22. Stericycle currently trades at 26x our 2012 EPS estimate, which is below the company's 5-year historical average forward multiple of 28x (range of 21x-38x). The stock is down more than 8% August-to date, which compares to the broader market (S&P 500) down just one more percentage point over the same period." Shares of SRCL closed Wednesday at $84.41, up 0.91% from Tuesday's close.